Published on June 20th, 2010 | by Babar Bhatti1
Nokia in Big Trouble
Nokia has been struggling for the last few years. From all the evidence that I have seen, Nokia has been unable to compete with rivals and very soon it will be in a crisis. Recently Nokia cut its forecast for profit. The issues with Euro impacts Nokia as well. and their stock price is down. Fast Company called them the leaders of dumb phones, Wall Street Journal said Nokia Dials More Wrong Numbers:
… Nokia’s handsets can’t hold a candle to its smartphone rivals. Its Symbian interface isn’t as slick or user-friendly as the iPhone and the third-quarter launch of its N8 phone doesn’t look like a game-changer. Nokia’s frustrating sluggishness in bringing products to market is in contrast to Apple, which unveiled the iPhone 4 last week.
Although Nokia remains a leader with 40% market share but the reality is that they sell plenty of low priced phones with low margins. The money is to be made in expensive smartphones. And if Apple and RIM were not enough, companies like HTC and Samsung are increasing their market share rapidly.
This is bad news for the Nokia fans. I know but someone has to write the truth about Nokia. I’d welcome a counter post by one of the die-hard Nokia fans!